DETERMINANTS AND ADOPTION OF POINT OF SALES OF SELECTED BUSINESS ORGANISATIONS
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DETERMINANTS AND ADOPTION OF POINT OF SALES OF SELECTED BUSINESS ORGANISATIONS
ABSTRACT
Nigerian payment systems are cash-driven since cash is the primary form of payment for many transactions. However, the Point of Sales (POS) Systems, which are intended to promote a cashless economy as opposed to cash-centered operations, are hampered by inadequate infrastructure such as network connectivity
a lack of consistent power supply systems, insufficient Internet, insufficient hardware and software required to run POS, limited bandwidth for data transmission, security issues, a lack of trust, insufficient customer education, and insufficient motivation to adopt POS.
This study looked at the factors and adoption of point-of-sale systems in selected businesses in Lagos State’s banking, oil and gas, retail and aviation sectors.
The study used a cross-sectional survey research design. The study’s population comprised of individual SMEs who use POS in the identified industries and business organisations in Lagos State
with a total population of 11,663 and a sample size of 2,059. Respondents were chosen at random from the selected organisations where the data was collected.
A validated questionnaire was utilised. A total of 2,059 copies of the questionnaire were distributed, with a 77.1% response rate. Cronbach’s alpha coefficients for the constructs ranged between 0.719 to 0.810. Data were analysed using descriptive and inferential statistics (Pearson Product Moment Correlation and Regression).
The study found a significant relationship between infrastructure availability and POS adoption (r=0.349; p < 0.01), POS security and POS adoption (r =.437; p < 0.01), customer trust and POS adoption (r = 0.373; p < 0.01), customer education and POS adoption (r = 0.477; p < 0.01), and customer motivation and POS adoption (r = 0.399; p < 0.01).
The model summary of the regression showed the effect of independent variables on POS adoption. The R2 value of 0.733 (73.3%) indicated that the variance associated with POS adoption can be explained by the identified variables, which include infrastructure availability, POS security, customer trust, customer education, and consumer motivation.
The study concluded that infrastructure availability, POS security, customer trust, customer education, and customer motivation all had a substantial and positive association with POS adoption in selected SMEs in Lagos State, Nigeria.
The study concluded that stakeholders should guarantee that infrastructure, POS security, customer trust, customer education, and customer motivation are in place to increase POS adoption in selected Nigerian businesses.
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